Stockland wins Aevum takeover deal

Shares in Aevum have entered a trading halt after the retirement village operator seeks to finalise an agreement with Stockland, which is in the process of buying Aevum.

Aevum shares will remain in a trading halt until the company makes an announcement to the market, or until the market opens on Friday.

"Aevum is seeking a trading halt pending finalisation of an agreement entered into with Stockland Development Pty Ltd in relation to Stockland's revised offer," Aevum said in a letter to the ASX on Wednesday.

"Aevum considers that certain details of the agreement will be material information for the market."

As at 10.50am Sydney time, Stockland controlled 64.13 per cent of Aevum shares, giving it majority ownership of the takeover target.

Stockland's revised offer of $1.80 per Aevum share remains open to shareholders until October 13.